Veritone, Inc. (VERI) Stock Rating Upgraded by Zacks Investment Research

Veritone, Inc. (NASDAQ:VERI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Veritone, Inc. is an artificial intelligence company. It developed the Veritone Platform, which unlocks the power of AI-based cognitive computing to transform and analyze unstructured public and private audio and video data for clients in the media, politics, legal and law enforcement industries. Veritone, Inc. is based in Newport Beach, United States. “

Other analysts have also issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $18.00 target price on shares of Veritone in a report on Friday, August 4th. Northland Securities set a $19.00 price target on shares of Veritone and gave the stock a “buy” rating in a report on Wednesday, July 19th. Wunderlich reissued a “buy” rating and issued a $18.00 price target on shares of Veritone in a report on Wednesday, June 21st. Finally, Roth Capital started coverage on shares of Veritone in a report on Friday, August 11th. They issued a “buy” rating and a $13.20 price target on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Veritone currently has an average rating of “Buy” and a consensus price target of $26.20.

Veritone (NASDAQ:VERI) last posted its earnings results on Monday, August 7th. The company reported ($1.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.20) by ($0.13). The company had revenue of $4.09 million for the quarter, compared to analyst estimates of $2.99 million.

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Large investors have recently modified their holdings of the company. Spark Investment Management LLC bought a new position in shares of Veritone in the 2nd quarter worth $126,000. Vanguard Group Inc. bought a new position in shares of Veritone in the 2nd quarter worth $132,000. Northern Trust Corp bought a new position in shares of Veritone in the 2nd quarter worth $269,000. Perkins Capital Management Inc. bought a new position in shares of Veritone in the 2nd quarter worth $498,000. Finally, White Pine Capital LLC bought a new position in shares of Veritone in the 2nd quarter worth $583,000. 9.73% of the stock is currently owned by hedge funds and other institutional investors.

About Veritone

Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.

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